Dear John,
 Yesterday Ceres released a comprehensive guide to encourage the U.S. insurance industry reimagine its future in a climate-changing world. The new report, Ceres 10-Point Plan for the Insurance Industry, offers a clear roadmap for maintaining insurance availability, affordability, and the industry’s long-term health amid escalating and costly climate disasters.
The severity and frequency of record-breaking hurricanes, wildfires, and other unnatural catastrophes continues to destroy entire communities and economies. The U.S. faced $92 billion in economic damages in 2023. The current year, which is already predicted to be the warmest on record, faces significantly over $100 billion in losses, with Hurricanes Milton and Helene each expected to cost more than $50 billion each. This is causing insurers to retreat from high-risk markets and dramatically raise insurance premiums.
Ceres 10-Point Plan for the Insurance Industry presents a new vision for how insurance can navigate this reality, issuing a set of recommendations for insurance companies, regulators, and other industry stakeholders, including investors and governments. Ceres’ plan addresses the multifaceted approach needed from insurers and regulators to address increasing climate risks and build a more resilient and sustainable insurance sector. |
We encourage you to reach out to your own insurance company—home, auto, life, etc., and ask what they are doing to address the climate crisis. Send them this report and express your desire to ensure that the companies you’ve trusted to protect your assets are playing their part to reduce climate risks and accelerate a low-carbon transition. |
Thank you,
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Steven M. Rothstein
Managing Director,
Ceres Accelerator for Sustainable Capital Markets
[email protected]
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